Deceuninck Q2 revenue falls 2.4% Y/Y.
The sales in the April-June period came in at EUR 152.3 million (USD 216.6m), compared with EUR 156.1 million a year ago. The result was below analyst expectations. Sales were strong in the Benelux region, France, Germany and Turkey but growth was curbed by weak demand in the US, central and eastern Europe.
For 2011 the company anticipates almost stable net result and revenues due to the increasing raw material prices, the lower volumes in the
United States and unfavourable currency exchange rates. Earlier in 2011, Deceuninck had bet on a growth for the whole year.
(EUR 1.0 = USD 1.415)